No Jail For Ex-NY Pension Fund Exec In Corruption Scandal

Law360, New York (October 9, 2012, 3:44 PM EDT) -- A New York state judge released the state's former chief investment officer without jail time Tuesday for his role in a wide-ranging pay-to-play scandal at the state's largest pension fund, saying he failed to protect the state's investments but didn't get any kickbacks himself.

Judge Lewis Bart Stone said during a hearing Tuesday that David Loglisci, the pension fund's former chief investment officer and deputy comptroller, had not received any kickbacks in exchange for investments from the state's common retirement fund like others implicated in the...